A delegation from the International Monetary Fund (IMF) is set to arrive in Ghana today, 5 July 2022, to commence negotiations with the government on the modalities on the economic support, the Finance Ministry has confirmed.
The ministry noted, however, that a series of in-person meetings will begin on Wednesday, July 6, 2022. It is assured of successfully negotiating a program with the funds to foster the country’s economic recovery.
The Information minister, Kojo Oppong Nkrumah, in a media interview on Monday, intimated that the government is expecting an estimated support of USD 3 billion from the Fund, albeit a short-term arrangement.
On July 1, the government announced the instruction of the President to the Finance Minister to engage the Fund to provide some relief for its balance of payments challenges caused externally by COVID-19 and the Ukrainian war.
The opposition National Democratic Congress (NDC) has criticized the government for its sluggish approach in seeking aid from the IMF, considering the numerous hardships facing the country. Its leader, John Mahama, has also called for the head of the Finance Minister over incompetence, while dissolving the Economic Management Team.
The IMF has already begun similar talks with other countries, including Egypt, Rwanda, Kenya, Côte d’Ivoire, and Uganda.
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